The firm advised in some of 2007's biggest deals, including the launch of Cairn India and the takeover of Scottish Power by Iberdrola.

James Will, head of Corporate Finance at Shepherd and Wedderburn, said: "The firm's involvement in some of the largest deals of 2007 demonstrates our strength and expertise across a number of sectors both in the UK and overseas.

"It was an extremely active year for us and we are very fortunate with the clients for whom we work.

"It is still difficult to say what 2008 holds for general levels of corporate activity in the UK. There remains a lot of uncertainty."